Success in Iraq but Not on the Stock Market

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The stock market has been in the doldrums, and one conventional explanation has been -uncertainty- over whether there-d be a war in Iraq and, if so, how well it would go. Now, the uncertainty is over, but what about the market? Kathleen Pender, who writes about economics for the San Francisco Chronicle, says last month-s 1000-point victory rally is all we-re likely to see for a while because many investors are concerned about the political aftermath of the war in Iraq and remain leery of the sluggish economy at home.

In an unrelated story, Rupert Murdoch-s News Corp will pay $6.6 billion in stock and cash to get control of the satellite service, DirecTV. The deal, which also fills a void in Murdoch-s worldwide satellite empire, makes Murdoch America-s second-largest provider of pay television, after Comcast. Though the numbers look good, But Porter Bibb, who runs Media Tech Capital Partners, says Murdoch-s money could have been much better spent. (This story was originally broadcast earlier today on To the Point.)

  • Making News: Near-Riot in Southern City of Basra
    The southern Iraqi City of Basra has devolved into chaos. Looting and tribal rivalries have been too much for British soldiers, who are stretched too thin to keep order. We-ll hear a report tonight from a Newsweek reporter on the roof of a hospital, where he and his colleagues have gone for their own safety. Rod Nordland of Newsweek magazine has taken refuge on the roof of the local hospital.
  • Reporter-s Notebook: The Legacy of Genghis Khan
    The city of Baghdad has been conquered before, by the British, Persians, Ottoman Turks and the Mongols, led by Emperor Genghis Kahn. Combining history with front-page news, the LA County Museum of Art is launching an exhibition called -The Legacy of Genghis Khan: Courtly Art and Culture in Western Asia.- Linda Komaroff curated the exhibit of manuscripts, textiles and elaborately glazed tiles from the 13th and 14th centuries.

Business Roundtable-s economic forecast



News Corporation

The Legacy of Genghis Khan



Warren Olney


Frances Anderton